vested
YNH extends deadline for RM170 mil land sale to Sunway by a year after caveat foundBy Emir Zainul
YNH Property Bhd’s (KL: YNHPROP) proposed sale of a 5.098-acre freehold land in Desa Sri Hartamas to Sunway Bhd (KL:SUNWAY) for RM170 million has been extended for a fifth time, stretching the deadline by another year to May 12, 2025, as more conditions are being added to the deal following the discovery of a registered caveat lodged over the property.
A land search conducted on Feb 26, 2024 revealed the caveat lodged over the property on Sept 25, 2023 and an endorsement dated Sept 29, 2023, pending registration, accompanied by remarks indicating “Hakmilik Kekal Ambil Balik Sebahagian Tanah” for an acquisition.
While the latest agreement maintained that RM50 million will be added to the price tag if YNH manages to obtain the new DO for a project with a plot ratio of seven, it will still be able to get RM20 million extra if it only obtains the new DO with a minimum plot ratio of six.
Source: theedgemalaysia.com
https://theedgemalaysia.com/node/711418
It's all about "how much you made when you were right" & "how little you lost when you were wrong"